It's time to get excited about smartphones again. Sure, you might covet the likes of the iPhone 6S and Samsung Galaxy S7 for the badge they sport and features they offer, but there's another option you should be considering. One that's kinder to your wallet and almost as specs impressive as the big boys – the OnePlus 3.

The biggest brand you've probably never heard of, OnePlus has transformed from nerd-appeasing start up to Apple-worrying mainstream hit in just three years, and the OnePlus 3 is a true flagship killer. Seriously. Pairing specs taken from the top drawer with a price tag that's not going to force you into remortgaging, this high-end phone is an all-round win. It'll set you back just £329, and that's the £20 more expensive post-Brexit price.

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That's still a fair old chunk of change, but when you consider that an iPhone 6S with the same amount of internal storage will set you back £619 – a staggering £290 price difference – it feels positively cheap. Providing affordability without skimping on performance, the OnePlus 3 is a device that really does offer the best of both worlds, and one that is definitely worth your consideration. Here's why.

The Good:

Amazing value for money

Solid specs sheet

Stunning design

The Bad:

Screen colours a little peaky

No expandable storage

More expensive post-Brexit

OnePlus 3 Design: A high-end highlight

If the iPhone 6S and HTC 10 had a baby, this would be the result. That's not a slight on the OnePlus 3's design, this thing's a beaut. It's one of the best-looking devices in all the smartphone kingdom, and one you'll be proud to show off to your mates down the pub. OK, no, it might not be the most original design, but who cares? It's different enough and how much can you actually do with a 5-inch slab of metal, really?

The soft curves and subtly angled rear of the OnePlus 3 make it a simply stunning option. It's not just easy on the eye though. These carefully curved corners combine with a brushed smooth yet still grippy finish to make a device that's a joy to hold.

Yes, with a 5.5-inch panel it's a big phone, but whether in your hand or filling your pocket, it never feels uncomfortably oversized.

That's because at just 7.4mm thick, it's barely any beefier than the 7.1mm iPhone 6S. What's more, weighing in at a comfortable yet reassuring 158g, it's a phone that feels like its been on a Lean in 15 plan. All of this combines to once again prove that what we once oversized smartphones are no longer actually that big.

OnePlus 3 Screen: Bright and brilliant

When phone manufacturers keep costs low, the first corner to be cut tends to be the screen, with image quality making way for cheaper, lower resolution panels. Fortunately that's not the case here. Sure, unlike the Galaxy S7 and LG G5, the OnePlus 3 has shunned an eye-meltingly sharp QHD panel for a 1080p Full HD offering, but then so have more expensive flagships like the Sony Xperia Z5.

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And so what? No, the OnePlus 3's screen might not be the sharpest on the market, but it's sharp enough. You're eyes would struggle to notice much of a difference between this and a QHD panel anyway. And screen quality isn't just about how many pixels have been thrown down – just look at the iPhone 6S.

For the most part, the OnePlus 3's 1920 x 1080 pixel panel is a visual delight. Images are sharp, video fluid and blacks a lovely gradient of deep and immersive. At times colours can be a little peaky and warm (a few too many yellow tinges), but with the traditional brightness controls lining up alongside a handy colour balance meeter, you can make the screen as warm or as cool to look at as you like. It's not quite on par with the Samsung Galaxy S7's screen, but for half the price it's far from an unsightly compromise.

OnePlus 3 Features & Performance: All the grunt and plenty more besides

Like getting a Ferrari for the price of a Volvo, the OnePlus 3 offers everything under the hood that you could possibly want. More super phone than mere smartphone, it pairs Qualcomm's latest 64-bit Snapdragon 820 processor with a massive 6GB of RAM. The result? A user experience that won't leave you wanting at any point.

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Whether you're playing power-hungry 3D games, watching movies, enjoying a serious Facebook session or simply jumping between the lot, the OnePlus 3 has more than enough grunt to see you cruising through everything you can throw at it. Without so much as breaking a sweat or getting stuck in a slow, laggy stall either.

It's not quite faultless though. If there's an issue we could pick with the OnePlus 3's specs sheet, it's the lack of expandable storage. Sure, the 64GB of internals is pretty considerable (especially given the price) and puts the entry level, 16GB iPhone to shame, but for some it could still be a little restrictive.

Although thats enough space for thousands upon thousands of photos and videos, documents and downloads, the fact that there's always going to be an upper limit is a little frustrating. It might not be a concern now, but 18 or 24-months down the line just before you're looking to upgrade, you could be making serious decisions – do I delete Pokémon Go or those 26 photos of little baby Timmy, hmmm?

It's not all about what's under the hood though. Up front, the integrated fingerprint scanner which, like on the iPhone, sits under the screen, is one of the fastest and most reliable we've seen on an Android handset.

The software see of things is a solid win, too. Like most anti-iPhones, the OnePlus 3 runs Android at its core. This isn't Android as you know it though. Google's OS has been heavily skinned, with OnePlus's custom Oxygen OS. While the basic Android design and features remain, this skin offers new levels of customisation and a mass of shortcut features that will quickly have you wondering how you ever did without them – like drawing a 'V' when your phone's asleep to turn the torch on.

So what's the catch?

Well, it's not battery life. The 3,000mAh battery power supply at the heart of the phone is solid without ever being groundbreaking. It's not going to revolutionise the industry with weeks of staying power, but it will comfortably take you past that dreaded one-day hump and cruising into a second day before needing to make an emergency pit stop. When you're in the red zone things are impressive too. Quick Charge skills mean the OnePlus can add a full day's use to its battery life after just 30 minutes attached to the mains.

OnePlus 3 Camera: The only camera you'll need in your pocket

Compact cameras are dead, long live the smartphone snapper. More than just your average, "it'll do because it's there" addition, the OnePlus 3's camera is a seriously solid addition, and one that's bringing the fight to phones twice its price.

The 16-megapixel primary snapper is enhanced by optical image stabilisation for smoother shooting and crisper, sharper results. And the results are, for the large part, bang on. No, the OnePlus 3 isn't quite on par with the iPhone 6S and Samsung Galaxy S7 when it comes to camera quality – the colours are just a little flat when the lights are low and after dark shots a bit noisy – but it's up there with the best of the rest.

When it's sunny out, you'll get images with bright, vibrant and, most importantly, natural colours. Ones with plenty of depth and a subtlety to their colour gradients. People and objects look sharp without being artificially so, and even moving objects are quickly pulled into focus and rendered anything but a blurry mess.

The selfie lovers haven't been left out either. An 8-megapixel front-facing camera offers pleasingly impressive results. Selfies are bright, light, sharp and not plagued by the usual, flat, grainy issues that spoil your night out vanity shots or flirty Snapchats.

Verdict: The best value phone available

If you covet the best than the smartphone world has to offer but can't afford the badges and designer labels associated with it, the OnePlus 3 is the phone for you. Heck, even if you can afford the iPhone 6S or Galaxy S7, this is still a wise choice. It's a smartphone that breaks boundaries and moulds. One that is shaking up the industry and, at the bottom line, is just a brilliant bit of kit regardless of the price.

If you paid north of £500 for this phone, you'd still be happy with your purchase. The fact that it can be picked up for just £329 makes it an unrivalled hit. No other handset offers more for less. And c'mon, who doesn't love value for money?